UMA/TETHERUS PERPETUAL CONTRACT Forum & Chats (WEEX:UMAUSDT.P)

3 days ago

is showing signs of a bullish breakout after weeks of compression within a descending wedge.

The price has just broken above the downtrend resistance line with strength, supported by a clean higher low formation and steady buying volume.

DYOR, NFA

MagickeyFX

#BTC/USDT ANALYSIS

BTC is moving in a descending triangle. It is holding above the horizontal support with a low volume. A good volume volume bounce and breakout of the descending triangle is the bullish confirmation, while a sustained breakdown of the triangle is the bearish confirmation.

MagickeyFX

#UMA/USDT ANALYSIS

UMA has rebounded from the horizontal support with high volume and is currently encountering both the Ichimoku cloud and the trendline resistance. A solid breakout of the trendline would signal a bullish continuation, whereas rejection would indicate a potential retest of the MA 200.